Observations
Mar 19, 2024Australian Senator Andrew Bragg recently criticized the current regulatory framework for the financial sector in Australia. In particular, he pointed to failures in the country's twin peaks model of two independent regulators focused on market conduct and supervision, represented by the Australian Securities & Investments Commission (ASIC), and financial system stability, through the Australian Prudential Regulation Authority (APRA).
by Starling Insights, Wayne Byres, Michelle W. Bowman, Charles Randell
Compendium
Feb 14, 2024Observations
Nov 16, 2023The Australian Prudential Regulation Authority (APRA) has taken RAC Insurance, a customer-owned insurer, to task in a governance review for “significant weaknesses” in board-level decision-making, outsourcing controls, and conflict management.